(Source: Utah Geological Survey, Crescent Energy)
Crescent Energy’s financial arm Crescent Energy Finance LLC has priced its private placement of $250 million aggregate principal amount of 7.375% senior notes due 2033, Crescent announced Sept. 4.
Crescent said it intends to use the net proceeds from this offering to repay a portion of the amounts outstanding under its revolving credit facility.
The notes are being offered as an addition pursuant to the previously issued $750 million aggregate principal amount of 7.375% senior notes due 2033, which Crescent announced in June.
The notes mature on Jan. 15, 2033, and will pay interest at the rate of 7.375% per year, payable on Jan. 15 and July 15 of each year, with interest payments on the notes commencing Jan. 15, 2025.
The notes were priced at 101% of par, plus accrued and unpaid interest from June’s offer.
This offering is expected to close on Sept. 9, subject to customary closing conditions.
RELATED
Recommended Reading
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.